Acquisitions in Texas in 2019

Alera Group acquired AMCORP, Inc., a San Antonio-based benefits consulting and financial planning firm, effective December 31, 2019. The deal expands Alera Group's presence in Texas and brings AMCORP's team and local client relationships into Alera's national platform; terms were not disclosed.

AEA Investors' Small Business Fund completed the carveout acquisition of Univar Solutions' Environmental Sciences Business (ES). Headquartered in Austin, Texas, ES is a leading distributor of pest-control products and technical services with ~70 North American locations serving thousands of local service providers; AEA intends to grow the business and expand into adjacent markets leveraging its footprint and vendor relationships.

American Securities, a New York-based private equity firm, has acquired United PF Partners, the largest Planet Fitness franchisee, from Eagle Merchant Partners and JLM Financial Partners. United PF is headquartered in Austin, Texas and operates more than 160 clubs across 14 states serving over 1 million members; terms were not disclosed and the deal closed in late December 2019.

Traditions Health, a Dorilton Capital-backed hospice and home health provider headquartered in College Station, Texas, has acquired Guiding Hospice, a hospice provider based in Round Rock (greater Austin). The acquisition expands Traditions Health's geographic presence in the Austin area and brings Guiding Hospice's owners, Chris Willis and Kyle Dugan, onto the Traditions team.

J.D. Power has acquired Trilogy Automotive, the automotive software division of Trilogy Enterprises, and will integrate Trilogy's SaaS-based lead management platform into its Autodata Solutions division to expand OEM digital dealer capabilities. Trilogy Automotive's leadership and employees will join J.D. Power to scale the combined offering for OEMs and dealers.

VIRTEX Enterprises, an electronic manufacturing services (EMS) company backed by Insight Equity, acquired a majority of the assets of Precision Technology, Inc. (PTI), a single-facility EMS provider in Plano, Texas. The add-on expands VIRTEX's NPI, ultra-low-volume and flex/rigid-flex assembly capabilities and strengthens its presence in the Texas aerospace and defense corridor.

EQT Infrastructure II has completed the sale of Contanda LLC, a Houston-based provider of liquid bulk storage and logistics services, to institutional investors advised by J.P. Morgan Asset Management. Contanda operates 15 terminals in North America with over seven million barrels of capacity and ~275 employees; the sale represents a PE exit after a period of growth and capacity expansion under EQT's ownership.

Tiptree Inc., through its insurance subsidiary, agreed to acquire Smart AutoCare, a vehicle warranty solutions provider led by founder and CEO Peter Masi, in an all-cash transaction with incentive-based earnouts. The deal will make Smart AutoCare a wholly owned subsidiary of Tiptree Warranty Holdings LLC and is intended to materially expand Tiptree’s warranty distribution channels and fee-based cash flows outside its regulated insurance subsidiaries.

LLR Partners has acquired a majority stake in Geoforce and made a growth capital investment to support the company’s expansion. Geoforce is a cloud-based asset-tracking and Track and Trace provider for field equipment and vehicles, serving over 900 customers across energy, construction, mining, agriculture and logistics; LLR will provide industry expertise and capital to accelerate product innovation and market expansion.

TurnPoint Services acquired Sunny Service Heating and Air Conditioning of Hurst, Texas on December 16, 2019. The acquisition is an add-on to TurnPoint's platform to expand its footprint into the Dallas–Fort Worth market while retaining Sunny Service's operational leadership and brand.

A Cloud Guru has acquired Linux Academy to combine the two companies' cloud training content and hands-on labs, creating what the buyers describe as the world’s largest cloud computing training platform. The deal brings together complementary course libraries across AWS, Azure, Google Cloud, DevOps and security to accelerate product innovation and expand training offerings for individual learners and enterprise customers.

Chicago-based NTI Connect LLC (PE-backed by ORIX Capital Partners) has acquired Vertical Communications Inc. (VERTICOM), a Dallas-based broadband network engineering and deployment company. The add-on expands NTI's wireless and fiber deployment capabilities and scales its operations across the South-Central United States.

Los Angeles-based Shamrock Capital made a minority investment in Ad Results Media, a leading audio and podcast advertising agency, to support the company's technology and service expansion. The capital will be used to grow production capabilities, proprietary data and analytics, and advertising technology to scale podcast and audio advertising services.

CTCOA LLC d/b/a Olympic Aviation, a portfolio company of The Anderson Group, acquired the assets of Mayday Aviation. The add-on acquisition will integrate Mayday's hard-to-find aircraft fasteners and parts into Olympic Aviation's Cerritos, California distribution facility to expand product offerings and grow Olympic's domestic aerospace customer base.

Mercer Global Advisors, Inc. (Mercer Advisors) acquired Republic Wealth Advisors, LLC, a Houston-based fee-only registered investment advisory firm with approximately $230 million AUM. The deal brings Republic's co-owners and staff into Mercer and expands Mercer's Texas presence while providing succession and continuity for Republic's founders and clients.

A fund managed by Basalt Infrastructure Partners completed the acquisition of Third Coast Midstream LLC's natural gas transmission business, which will be rebranded as Black Bear Transmission. The assets include seven regulated 'last-mile' pipelines (~550 miles, >1,600 MDth/day capacity) serving utilities and industrial customers across the Southeast United States; terms were not disclosed.

Ironwood Midstream Energy Partners II, LLC closed the acquisition of the Gardendale and Asherton crude oil gathering systems (the combined "Gardendale System") from Twin Eagle Gardendale Pipeline, LLC, a unit of Twin Eagle Holdings. The assets—approximately 150 miles of active gathering pipelines with long‑term dedications totaling more than 124,000 acres—expand Ironwood II's South Texas footprint and are backed by a $400 million growth capital commitment from EnCap Flatrock Midstream.

Veronis Suhler Stevenson (VSS) has made a significant growth investment to recapitalize Endo1 Partners, a Houston‑headquartered endodontic partnership organization. The capital will support Endo1's national expansion and a focused add-on acquisition program to consolidate complementary endodontic practices.

Grammer Industries, a Stellex Capital-backed hazardous materials transportation and logistics company, has acquired LiMarCo Logistics, a regional LPG/NGL hauler based in Houston with a terminal in Corpus Christi. The acquisition (closed December 6, 2019) adds 26 tractors, 41 trailers and 15 independent contractors to Grammer's NGL division and expands Grammer's footprint in Texas, Louisiana and Oklahoma.

Transportation Insight has acquired Meridian Logistics LLC, which operates as FreightPros, a freight brokerage founded in 2009 and based in Austin, Texas. The deal strengthens Transportation Insight's LTL brokerage capabilities and FreightPros will initially operate within Transportation Insight Holdings before being integrated into the Nolan Transportation Group brokerage unit.

SRM Concrete has acquired Conroe Concrete (doing business as Yancey Ready-Mix), a family-owned ready-mix concrete manufacturer based in Conroe (north Houston), Texas. The acquisition expands SRM's footprint in the Houston/North Texas market; terms were not disclosed and ClearRidge advised the sellers (Bobby and Jo Ann Yancey).

Epiphany Dermatology announced a partnership with South Tyler Dermatology whereby Dr. Thomas Lambert and his staff will join Epiphany to expand the company's presence in East Texas. The affiliation gives South Tyler Dermatology access to Epiphany's operational infrastructure (managed care, HR, IT, marketing) while broadening Epiphany's provider network and patient access in Texas.

Huntsman Corporation announced an agreement to acquire Icynene-Lapolla from an affiliate of FFL Partners for $350 million in an all-cash transaction. Icynene-Lapolla is a North American manufacturer and distributor of spray polyurethane foam insulation with ~ $230 million in annual revenues and manufacturing facilities in Houston, Texas and Mississauga, Ontario; the deal was positioned to expand Huntsman's downstream insulation capabilities and global spray-foam offering.

Gemspring Capital has completed an investment in Shrieve Chemical Company, partnering with Shrieve's leadership to support growth. Shrieve, a The Woodlands, Texas-based value-added distributor of industrial chemicals, specialty lubricants and performance fluids, will leverage Gemspring's chemicals and distribution expertise to expand product offerings and invest in the business.

KKR entered into an agreement to acquire Novaria Group, a Fort Worth, Texas-based manufacturer of specialty aerospace hardware, from sellers Rosewood Private Investments and Tailwind Advisors. The buyout, funded by KKR's Americas XII Fund, will implement a broad-based employee ownership model and support scaling and capability expansion across Novaria's aerospace components operations; financial terms were not disclosed and the deal was expected to close by Q1 2020.

TAB Bank has acquired BAMFi’s $46 million BAM Capital Division working capital loan portfolio and will retain the Dallas-based operations and staff. BAMFi will continue to own its FactorCloud secured-lending SaaS product while divesting the lending portfolio so TAB can expand its working-capital offerings and presence in the Dallas/Ft. Worth market.

Insight Equity Holdings LLC has acquired CSAT Solutions Holdings, LLC, a Houston-based provider of integrated electronic and digital device repair, inventory management, and reverse/forward logistics services, from CAI Capital Partners. Terms were not disclosed; Insight Equity said it will invest in capacity, add customer accounts, and pursue expansion into adjacent markets.

Wind Point Partners portfolio company A&R Logistics has acquired Plantgistix Holdings, a Houston-area provider of packaging, warehousing and export services for the plastic resin industry. The deal adds three Houston facilities and resin-handling capabilities to A&R's chemical export platform, advancing its multi-port export strategy and complementing recent East Coast expansions.

ONCAP, the mid-market private equity platform of Onex Corporation, partnered with Enertech's management team to acquire Enertech Holdings LLC from Tower Arch Capital. Enertech, headquartered in New Braunfels, Texas, is a provider of wireless infrastructure services with more than 470 employees across 14 U.S. facilities; ONCAP plans to grow the business through acquisitions and organic expansion.

Apex Physics Partners, a PE-backed medical physics platform partnered with Blue Sea Capital, has acquired Radcom Associates, a North Texas medical physics services provider headquartered in Garland, Texas. The add-on expands Apex’s footprint into the Texas market and grows the combined Apex medical physics team to 53 physicists, strengthening its services to hospitals, imaging centers and cancer centers across the region.

Young Innovations, a portfolio company of The Jordan Company, has acquired PuraGraft, LLC, a Kingwood, Texas-based supplier of biomaterial solutions for bone and tissue regeneration and dental surgical supplies. The acquisition will expand Young Innovations' specialty dental product portfolio and support national distribution of PuraGraft's regenerative products, pharmaceuticals and related supplies.

Process Insights, a portfolio company of Union Park Capital, acquired the business assets of ATOM Instrument from Advanced Holdings Ltd. The acquisition adds ATOM's patented total sulfur and total nitrogen elemental analyzers to Process Insights' process analytics product portfolio to broaden capabilities across petroleum, petrochemical and pipeline end markets; terms were not disclosed.

Gravity, a Clearlake-backed water and energy infrastructure platform, has acquired On Point Oilfield Holdings from White Deer Energy, creating the largest produced water (saltwater disposal) company in the Midland Basin. On Point founders and key executives have joined Gravity’s management team; financial terms were not disclosed.

LRW Group, an analytics-powered marketing services company and portfolio company of Tailwind Capital, has acquired Austin-based digital marketing agency T3. The 200+-employee agency will join LRW's Action Division and operate under LRW while continuing to serve its existing clients; the deal is an add-on to LRW's platform owned by Tailwind Capital.

Health Enterprise Partners led a $9.3 million Series A investment in Access Physicians to accelerate nationwide deployments of its multispecialty acute telemedicine services. The funding will support scaling of Access Physicians’ telemedicine programs, which are already deployed at 153 hospitals across 18 states and serve Fortune 500 health enterprises as well as rural and community hospitals.

Time Manufacturing Company (Versalift), a portfolio company of The Sterling Group, has acquired BrandFX, a leading manufacturer of composite service bodies. The seller was Stonebridge Partners; the acquisition gives Time in-house composite body capabilities and expands its product offering for utility, telecom and municipal fleets. BrandFX is headquartered in Fort Worth, Texas and employed about 286 people at the time of the transaction.

Funds advised by Apax Partners (the Apax Funds) acquired Lexitas, a Houston-headquartered, technology-enabled litigation support services provider, from Trinity Hunt Partners and Lexitas management/other investors. The investment is intended to accelerate Lexitas's growth through geographic and salesforce expansion, technology differentiation, and strategic M&A.

Sumo Logic acquired JASK Labs to integrate JASK's cloud-native Autonomous Security Operations Center (ASOC) capabilities into Sumo Logic's Continuous Intelligence Platform, expanding its cloud-native security intelligence, cloud SIEM and compliance offerings. The deal adds JASK's security engineering talent and an Austin, Texas office to Sumo Logic and aims to reduce alert fatigue and automate SOC workflows for modern, multi-cloud environments.

Scion Student Communities, a joint venture backed by Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group, acquired MUZE, a newly developed 502‑bed student housing community serving the University of Texas at Austin. MUZE was acquired from a partnership of Kayne Anderson Real Estate and developer Parallel Company and complements Scion's adjacent University House Austin, expanding the JV's presence in the UT Austin market.

TriMas Company, LLC has entered into a definitive agreement to sell its Lamons business to private equity firm First Reserve for $135 million in cash, subject to customary adjustments and regulatory approvals. Lamons, a manufacturer of industrial sealing and fastener solutions with approximately $186 million in net sales for the 12 months ended September 30, 2019, will be positioned by First Reserve to focus on energy-related end markets; the deal was expected to close by end of Q1 2020.

US Ecology, Inc. completed an all-stock merger with NRC Group Holdings Corp., combining US Ecology's hazardous and industrial waste services with NRC's nationwide emergency response and oil & gas disposal capabilities. The transaction creates a larger, nationwide environmental services leader, expands service verticals and landfill disposal capabilities in key Gulf basins, and is expected to drive cross-selling opportunities and operational synergies.

Pelican Energy Partners announced a majority recapitalization of Safety Automation Technology, LLC (SAT) and Shepherd Safety Systems, LLC (Shepherd). The transaction pairs SAT's field safety services with Shepherd's patented H2S monitoring hardware and real-time monitoring software to expand Pelican's capabilities in oilfield safety and emissions/worker-monitoring solutions.

Allworth Financial has acquired RAA, a large independent registered investment advisor that specializes in serving the airline community. The deal adds approximately $2.8 billion of client assets and roughly 60 employees across offices in Dallas, Atlanta, and Seattle, increasing Allworth's assets under management to over $7.5 billion; the transaction remains subject to customary regulatory approvals.

BEI Precision Systems & Space Company, a portfolio company of J.F. Lehman & Company, has acquired Wenzel Associates, Inc., a designer and manufacturer of ultra-low phase noise crystal oscillators, synthesizers and integrated microwave assemblies. The transaction is BEI Precision's second add-on under JFLCO sponsorship and expands BEI's capabilities and product offerings for military, space and commercial customers.

White Deer Energy, through a newly formed entity it primarily owns, has acquired TorcSill Foundations, LLC from Intervale Capital (Intervale Fund III). TorcSill, a Pasadena, Texas-based provider of engineered helical pile foundation solutions serving energy, industrial and power end markets, will continue to be led by CEO Tim Swift; financial terms were not disclosed.

Lincolnshire Management invested in Powerhouse and Security Vault Works (SVW), combining the businesses to create a national provider of refresh, remodel and facilities maintenance services. VSS completed a concurrent minority investment in Powerhouse and WP Global Partners also co-invested, with the combined platform employing more than 650 workers and leveraging a nationwide subcontractor network.

ASGN Incorporated (through its Apex Systems division) completed the acquisition of Intersys Consulting, LLC for $67.0 million in cash. Intersys — an Austin-based data, analytics and digital transformation consultancy with ~ $31M revenue in 2019 — will join Apex Systems to deepen ASGN's capabilities in cloud, data science and digital product development.

Charlesbank Capital Partners’ Charlesbank Technology Opportunities Fund has acquired WolfePak Software (WP Holdco, LLC) from Fort Point Capital. WolfePak, headquartered in Abilene, Texas, provides ERP, operational and regulatory compliance software to ~1,900 customers in the oil & gas sector; Charlesbank says it will accelerate growth and build on WolfePak’s industry position. Financial terms were not disclosed.

Guardian Capital Partners’ portfolio company Tactical Medical Solutions (TacMed) completed an add-on acquisition of TraumaFX Solutions, a developer and manufacturer of high-fidelity human and K-9 medical simulators, on June 7, 2019. The acquisition expands TacMed’s training and simulation capabilities for first responders, emergency medical professionals, and military customers worldwide.

Dallas-based private investment firm Elm Creek Partners sponsored a change-of-control acquisition of Buda Woodworks, a custom architectural millwork manufacturer based in Buda, Texas. Elm Creek partnered with industry executive J.J. Barto to support the company's transition and expansion into new geographic markets and service lines; financing was provided by LegacyTexas Bank and a private family office.